Honorable Frank Corte, Jr., Chair, House Committee on Defense Affairs & State-Federal Relations
FROM:
John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:
SB1481 by Shapleigh (Relating to loans for economic development and infrastructure projects to assist defense communities affected by military base realignment.), As Engrossed
No significant fiscal implication to the State is anticipated.
The bill authorizes the Military Preparedness Commission to use the Texas Military Value Revolving Loan Account to provide loans to defense communities for economic development projects that minimize the negative effects of a defense base reduction on the defense community or for an infrastructure project to accommodate new or expanded military missions as a result of the United States Department of Defense 2005 base realignment process. The bill also directs the awarding of defense economic assistance grants.
Local Government Impact
The fiscal impact to defense-dependent communities would depend on the funds available for loans or grants, the number of communities that applied, and the number of communities that were awarded loans or grants.